1. It seems we have a strong support at 2000cny, so price could hit 2350 to 2400cny as max. before going down because of the bearish trend (PURPLE dotted line which at the same time is a descending triangle ABCDE - bullish pattern ).
2. Price would drop because of the ORANGE expanding/ascending triangle (megaphone/wedge) - (bearish) ABCDE (diagonal). Ending pattern Target: 530cny
3. Once the target is reached, it is possible a candlestick to 317cny more or less due to the BEAR DIV at the RSI
4. After the bearish patterns are reached the bullish patterns will trigger a rally because of:
a) the LIGHT BLUE Head & Shoulders pattern, Target: 4150cny more or less
b) the PURPLE descending triangle ABCDE, Target: 4988cny more or less
c) the GREEN Gartley pattern, Target: 6300cny more or less
2. Price would drop because of the ORANGE expanding/ascending triangle (megaphone/wedge) - (bearish) ABCDE (diagonal). Ending pattern Target: 530cny
3. Once the target is reached, it is possible a candlestick to 317cny more or less due to the BEAR DIV at the RSI
4. After the bearish patterns are reached the bullish patterns will trigger a rally because of:
a) the LIGHT BLUE Head & Shoulders pattern, Target: 4150cny more or less
b) the PURPLE descending triangle ABCDE, Target: 4988cny more or less
c) the GREEN Gartley pattern, Target: 6300cny more or less
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If price goes down and overpasses the lower low (950cny) the Gartley pattern would get cancelled. This does not mean that BTC does not go up but this Gartley would be invalidated.
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Caution: don't think BTC is going to 0 in my chart. I have to clarify because there are stupid people like @Fontas that think BTC is going to hit 0 in my chart. Please read.
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Hey guys, I published an update ;) enjoy it ;)
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My orange dotted line is downer than it should, that line should be drawn higher to 3295 at the higher wick. I did not take that wick but I should have taken that one.
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Hey guys, this is my week view updated, taking the candles' bodies from 15m-timeframe
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Hey guys I was watching the weekly view and there is a resistance very strong at 2950. After that big red candle there is a doji (between this weekend and the next week it could probably range up to retest the last top 2830 and stay into that range before breaking). In the other hand although the candle of this week stays as a doji the next candle could be another doji and that would confirm the downtrend unless the next candle became a big green candle that covered 50% at least of the last big red candle. I would personally like an uptrend to 4000 before going down
